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Market News Video
December 19, 2012 AT 9:56 PM
New housing starts fell by 3% in November in part due to the effects of Hurricane Sandy, according to the Commerce Department. Construction began on new privately owned residential homes at a seasonally adjusted annual rate of 861,000 in November, down from a revised rate of 888,000 in October, below analyst expectations of a drop to about an annual pace of 872,000.